State of Alaska Department of Revenue Sells 5,718 Shares of Hanesbrands Inc. (NYSE:HBI)

State of Alaska Department of Revenue reduced its position in shares of Hanesbrands Inc. (NYSE:HBI) by 2.8% during the third quarter, Holdings Channel reports. The firm owned 200,691 shares of the textile maker’s stock after selling 5,718 shares during the period. State of Alaska Department of Revenue’s holdings in Hanesbrands were worth $1,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HBI. Blue Trust Inc. boosted its position in Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after purchasing an additional 1,594 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Hanesbrands in the 3rd quarter worth about $51,000. Rothschild Investment LLC bought a new position in Hanesbrands during the second quarter valued at about $39,000. Intech Investment Management LLC purchased a new stake in Hanesbrands during the second quarter worth about $51,000. Finally, Norden Group LLC bought a new stake in Hanesbrands in the first quarter worth about $60,000. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBI has been the subject of a number of research reports. UBS Group increased their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday, August 27th. Stifel Nicolaus upped their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Barclays raised their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.80.

Hanesbrands Price Performance

HBI stock opened at $7.09 on Monday. The firm has a 50 day moving average of $6.89 and a 200-day moving average of $5.78. The firm has a market capitalization of $2.49 billion, a P/E ratio of -8.34 and a beta of 1.58. Hanesbrands Inc. has a 12 month low of $3.58 and a 12 month high of $7.57. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. As a group, sell-side analysts predict that Hanesbrands Inc. will post 0.34 earnings per share for the current fiscal year.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.